WaPo Announces Major Changes to Nonunion Employee Retirement Plans
The Washington Post Tuesday announced that it would “eliminate future retirement medical benefits and freeze defined-benefit pensions for nonunion employees,” WaPo’s Steven Mufson reports. The media company also plans to pursue the same for its union employees.
Mufson writes:
“The changes will hit hardest at employees hired before 2009 who could plan on receiving pension payments based on their income and years of service. Each of those employees could see scores — or hundreds — of thousands of dollars less over the course of a retirement.
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